Grocery Delivery - Guyana | Statista Market Forecast

The Grocery Delivery market in Guyana is anticipated to achieve a revenue of GYD US$3.38m by 2024.
This projection indicates a promising annual growth rate (CAGR 2024-2029) of 6.38%, leading to a projected market volume of GYD US$4.61m by 2029.
Comparatively, the Retail Delivery market is expected to reach a market volume of GYD US$3.38m in 2024.
It is worth noting that China is projected to generate the highest revenue in this sector, with an estimated figure of GYD US$266.00bn in 2024.
Furthermore, the average revenue per user (ARPU) in the Grocery Delivery market is forecasted to be GYD US$88.82 in 2024.
As for the number of users, it is expected to grow to approximately 60.3k users by 2029.
Lastly, user penetration in the Grocery Delivery market is predicted to be at 4.6% in 2024.
These statistics showcase the potential and significance of the Grocery Delivery market in Guyana.
The grocery delivery market in Guyana is experiencing significant growth due to increased demand for convenient and contactless shopping options.

Definition:

The Grocery Delivery market consists of food and non-food products that people regularly buy from a grocery store, including food and beverages, pet food, household cleaning products, personal care products, and other household consumables. Grocery delivery can be purchased through several different sales channels such as Omnichannel, Quick Commerce, or directly from the store.

Structure:

Grocery Delivery contains three markets: Retail Delivery, Quick Commerce, and Meal Kit Delivery. Retail Delivery includes delivery of these products directly by supermarkets, brick-and-mortar shops, or grocery stores. The order is placed through an online shop run by the retailer (e.g. Walmart+, Amazon Fresh). Quick Commerce focuses on online delivery services that provide customers with last-mile delivery (Instacart), or operate ghost stores where product selection is limited but delivery time is faster (e.g. Gorillas, Getir, and Glovo). In this case, the platform (e.g. Gorillas) handles the delivery process. This also includes grocery delivery platforms where delivery is advertised under 3 hours, although, most players aim to deliver in minutes. Finally, Meal Kit Delivery encompasses the delivery of a recipe box where fresh ingredients are delivered to be prepared. This service is usually offered as a subscription plan (e.g. HelloFresh).

Additional Information:

Revenue figures refer to Gross Merchandise Value (GMV). User and revenue figures represent B2C services.

Fresh food & Beverages, personal care, or household items ordered online are directly delivered to the consumer, no matter if ordered via a platform (e.g., Instacart) or a retailer website (e.g., Walmart)
Online Grocery orders and delivery are both carried out by a retailer (e.g., Walmart)
Online orders that are picked up in the supermarket (e.g., Instacart) or operating ghost warehouses and delivery logistics (e.g., Flink)
Online orders of recipe boxes where the ingredients are already preportioned (e.g., HelloFresh)

Phone orders
Deliveries of prepared meals for direct consumption (e.g. Meal Delivery)

The Grocery Delivery market in Guyana has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Customers in Guyana are increasingly turning to online grocery delivery services due to their convenience and time-saving benefits. With the rise of e-commerce platforms, customers can easily browse and purchase products online, and have them delivered directly to their doorstep. Additionally, with the ongoing COVID-19 pandemic, customers are more hesitant to visit physical stores, leading to a surge in demand for online grocery delivery services.

Trends in the market: The Grocery Delivery market in Guyana has been experiencing significant growth in recent years, with new players entering the market and existing players expanding their services. This growth can be attributed to the increasing demand for online grocery delivery services as well as the entry of global players into the market. Additionally, companies in the market are leveraging technology to improve their delivery services, including the use of drones and other innovative delivery methods.

Local special circumstances: Guyana is a small country with a relatively low population density, which presents unique challenges and opportunities for the Grocery Delivery market. While the low population density may limit the potential customer base, it also means that companies can more easily reach customers in remote areas. Additionally, the country's tropical climate and poor road infrastructure can make it difficult to transport goods, making online grocery delivery services an attractive option for customers.

Underlying macroeconomic factors: The growth of the Grocery Delivery market in Guyana is also being driven by underlying macroeconomic factors, including the country's growing middle class and increasing internet penetration. As more Guyanese gain access to the internet and smartphones, they are becoming more comfortable with online shopping, including grocery delivery services. Additionally, the country's growing middle class is driving demand for high-quality, convenient products and services, including online grocery delivery.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Ecommerce market, in a PDF format.